Skye Bioscience (SKYE) Scheduled to Post Earnings on Thursday

Skye Bioscience (NASDAQ:SKYE - Get Free Report) is scheduled to be releasing its earnings data after the market closes on Thursday, November 7th. Analysts expect Skye Bioscience to post earnings of ($0.25) per share for the quarter. Individual that are interested in participating in the company's earnings conference call can do so using this link.

Skye Bioscience (NASDAQ:SKYE - Get Free Report) last posted its earnings results on Friday, August 9th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). On average, analysts expect Skye Bioscience to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Skye Bioscience Stock Performance

Shares of NASDAQ:SKYE traded up $0.02 during midday trading on Wednesday, hitting $5.37. 216,499 shares of the company's stock traded hands, compared to its average volume of 179,271. The firm's fifty day moving average price is $4.53 and its two-hundred day moving average price is $5.02. Skye Bioscience has a twelve month low of $1.44 and a twelve month high of $19.41.

Insider Activity

In other news, Director Andrew J. Schwab sold 252,500 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $6.60, for a total value of $1,666,500.00. Following the sale, the director now owns 66,356 shares in the company, valued at approximately $437,949.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Andrew J. Schwab sold 13,837 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.06, for a total transaction of $83,852.22. Following the completion of the sale, the director now owns 66,277 shares of the company's stock, valued at $401,638.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew J. Schwab sold 252,500 shares of the business's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $6.60, for a total transaction of $1,666,500.00. Following the sale, the director now directly owns 66,356 shares of the company's stock, valued at approximately $437,949.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $14.00 target price on shares of Skye Bioscience in a report on Friday, September 20th. Scotiabank assumed coverage on shares of Skye Bioscience in a report on Monday, September 30th. They set a "sector outperform" rating and a $20.00 target price on the stock. JMP Securities assumed coverage on shares of Skye Bioscience in a report on Tuesday, September 10th. They issued an "outperform" rating and a $15.00 price objective on the stock. Piper Sandler reiterated an "overweight" rating and issued a $20.00 price objective on shares of Skye Bioscience in a report on Friday, September 20th. Finally, Craig Hallum assumed coverage on shares of Skye Bioscience in a report on Tuesday, July 9th. They issued a "buy" rating and a $18.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $18.67.

Skye Bioscience Company Profile

Skye Bioscience, Inc, a clinical stage pharmaceutical company, discovers, develops, and commercializes cannabinoid-based molecules for the treatment of infectious diseases. The company's lead product candidate is SBI-100 used in the treatment of glaucoma and ocular hypertension. It is also developing SBI-200 to treat and manage various eye diseases, including uveitis, dry eye syndrome, macular degeneration and diabetic retinopathy.